The US miner will eventually have to invest a minimum of $3 million in Miranda Gold's Lyra project to be granted a 51% stake on it.
Newmont Mining News
The US-based miner, however, cannot directly negotiate wages and other benefits with its subcontractor’s employees.
Sumitomo’s move comes as Japanese trading companies have been grabbing assets and increasing their stakes on a few of them thanks higher commodities prices, which have boosted their profits.
Other than cash sum, the US miner is receiving 60 million Maverix common shares, representing a 28% stake in the Canadian company and warrants for an additional 10 million common shares.
Goldcorp Inc. CEO David Garofalo says he’s happy with his company’s portfolio of assets, but that doesn’t mean he doesn’t have a wish list.
Despite seeing gold output decline by 2%, Newmont claimed the title of world’s biggest bullion producer as it surpassed rival Barrick by 16,000 ounces in the first three months of the year.
One of the main findings from the report disclosed transparency as the greatest factor keeping companies from maximizing their score.
Operations were shut down on Saturday following an accident in which six construction workers were killed.
The boss of the world's top gold miner has bought 306,000 additional shares in the company.
The gold miner’s employees will receive this year 90 shares each, taking the total held by staff to more than 1.5 million shares.
Miner is advancing a pipeline of projects expected to contribute more than 1 million ounces of annual production starting in 2021.
About 50,000 ounces — roughly 125 gold bars — is all that stands in the way of Newmont overtaking Barrick as world's No.1 bullion miner.
Top listed copper producer Freeport jumped 7.4% and with Vale – up 6% – was among the NYSE's top 10 most actively traded stocks.
With seven greenfield projects Denver gold miner on track to increase global share of gold production to 5%.
The world’s No.2 gold miner is also planning to boost dividend by at least 50% next year, based on balance sheet improvements and the performance of its gold mines.
Companies have until Nov. 2 to sign up for the auction and the winner will be announced on Dec. 20
Company expects to increase gold production at Tanami by 80,000 ounces annually, reaching between 425,000-475,000 ounces a year.
The massive project is expected to process close to 80,000 tonnes of copper ore a day.
Newmont Mining Corporation has appointed experienced miner Alex Bates to lead the company’s business in Australia.
Newmont Mining Corporation today published Beyond the Mine, the Company’s annual report on its progress toward achieving its purpose – to create value and improve lives through sustainable and responsible mining.
A potential expansion would allow South America's largest gold mine generate about 200,000 ounces of the precious metal per year between 2020 and 2025
The firm has not been able to ship copper from the mine in over a month due to a ban on concentrate exports that kicked in on January 12.
Miner says that each month of delay in obtaining approval to export means production would be reduced by 70 million pounds of copper and 70,000 ounces of gold.
Government is considering to extend the miner a temporary permit, valid for up to six months, which would pave the way for Freeport to resume exports from Grasberg.
Far-reaching new mining rules ease a controversial ban on exports of nickel ore and bauxite.